Gaming Innovation Group said it had agreed to acquire Casinomeister for €3m, with completion expected in June 2024. Casinomeister will keep its brand within GiG Media, and GiG said the deal was expected to have an immediate positive financial impact.
The transaction adds Casinomeister to GiG Media and is expected by GiG to affect its finances immediately.
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Gaming Innovation Group reported a €5.22m after-tax loss for the first quarter, with revenue of €9m and adjusted core earnings of €200,000. The company said it is targeting €4.5m in annual cost reductions and moving clients from Alira to its CoreX platform. GiG maintained full-year revenue guidance of €44m to €48m and forecast core earnings of up to €13m.
Three proceedings involving Bet365, Super Group and SkyCity are before the High Court in Auckland over online gambling activity connected with New Zealand. A judge said the cases share a plaintiff and similar issues but it was too early to manage them together; Bet365 disputes the court’s jurisdiction, while SkyCity denies liability in a separate funded class-action claim covering losses from February 2020 to February 2026.
Soft2Bet appointed Andrew Cochrane as chief commercial officer, the company said. Cochrane will oversee global commercial execution, strategic partnerships and growth across business verticals. He joins from Gaming Innovation Group, where he was chief business officer, and previously held senior roles at DraftKings and SBTech.
ITV plans to launch real-money online slots and bingo in the UK in January through a partnership with Richmond Atlantic, using technology from GiG, according to reports. Richmond will oversee licensing and compliance, while GiG supplies the platform and Pragmatic Play delivers bingo; the five-year profit-sharing arrangement followed a competitive tender.
GiG said Gentoo Media recorded €30m in revenue in Q2 2024, up 39% from €22m a year earlier. Chairman Mikael Riese Harstad said the group had signed one of the largest land-based casino operators to its SweepX platform and expected to complete its split into two listed entities by the end of September 2024.